At the end of this year, the growth rate of the global economy will slow down by 1% compared to 2022 and will be 2.1%. A few key factors will influence the dynamics, including higher interest rates and rising financial risks from leading global regulators. reported In the forecast of World Bank (WB) analysts.
The World Bank revised growth rates for 70% of emerging market and developing economies and nearly all advanced economies. At the same time, the change in assessment in most cases occurred in a decreasing direction.
“Global growth is projected to slow from 3.1% in 2022 to 2.1% in 2023. Growth in countries outside of China will slow to 2.9% this year, from 4.1% last year. <....> The global economy is in an unstable position. “Except in East and South Asia, it is far from the dynamism needed to eradicate poverty, tackle climate change and replenish human capital.”
June 6 World Bank (WB) analysts sent Oil price forecast for the next few years, including the second half of 2023. According to WB, the cost of raw materials will be $80 per barrel by the end of this year and will rise to $82 by 2024.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.